If this is how your estate plan is structured, your beneficiaries may be in for a real shock.

Estate planning is overlooked by most Australian's. This can be a financial disaster for loved ones.

Financial planning doesn't just cover wealth accumulation and wealth protection strategies. Wealth distribution (estate planning) is a very important part of the planning process.

Most people believe that drawing up a will is sufficient. However in most cases a will is only a small part of the estate planning process.

A will only deals with assets that you own in your right (asset held in your name) and does not actually control how your non-estate assets are dealt with.

Non-estate assets are assets that you do not legally own and in most cases represent a substantial part of your estate. These assets are passed on to beneficiaries by methods other than that of a will and the distribution is generally outside of you control.

This suggests that a majority of wills are insufficient and in some cases totally irrelevant.

Failure to address these issues can result in an estate planning disaster. The wrong people may benefit and it may create unnecessary tax liabilities.

Medina has the expertise and experience to ensure that you have the right estate plan.

For peace of mind contact Medina Financial Group today.